Herc-Higher Education Recruitment Consortium

Position Summary

The Rice Management Company (RMC) is looking to add a Senior Real Estate Associate, Portfolio Management to our team in Houston, TX. The Senior Associate will be a key member of the team and play an integral role in managing the strategic real estate portfolio with a particular focus on investment performance, investment decision analysis, asset strategy, and stakeholder relations. A successful Senior Associate will have an ownership mentality, strong quantitative and qualitative skills, and a desire to support the mission-driven work of a university endowment. The ideal candidate enjoys working with a highly collaborative team, communicates well, and is highly organized.

About Rice Management Company

Ranking in the top 20 largest endowments of private research universities in the country, Rice University's endowment funds are the permanent capital of the University. The endowment plays a vital role for Rice, as distributions provide approximately 40% of the University's operating budget and support the University's core endeavors: path-breaking research, unsurpassed teaching, and access for students regardless of ability to pay.

The RMC, the steward of the University's $8B endowment, employs an actively managed investment strategy and has generated top decile returns over the past decade.

About RMC's Real Estate Portfolio

As part of the $8B endowment, the RMC's $1B real estate portfolio includes strategic real estate in Houston and high-quality joint venture investments across the U.S. including:

• Rice Village - The 20-acre urban shopping district immediately adjacent to Rice University. This investment has 210k sq ft of retail that includes some of the nation's most recognized retail brands and some of Houston's most exciting first-to-market stores and restaurants. The Village includes 13 acres of near-term development opportunities building upon its established character.

• The Ion District - A currently-under-development three-million square foot mixed-use innovation district in Midtown Houston with over $1B in future investments in new commercial office, apartment and retail buildings. The District includes The Ion, a $120M innovation hub that opened in 2021 and houses startups, leading technology companies, and programming to grow Houston's innovation ecosystem.

• Joint Ventures - Five long-term partnerships in targeted American and European markets investing in office, multi-family, and mixed-use value-add projects and new ground-up developments.

Salary

Commensurate with experience and qualifications

Essential Functions

• Creates and manages detailed and dynamic financial portfolio underwriting models, drive fund-level cash flow analysis, track variances, and liquidity planning

• Collaborates with Development and Asset Management teams to formulate business plans and develop risk mitigation strategies

• Monitors portfolio performance and prepares analyses in support of asset-level decisions to ensure execution is consistent with portfolio's investment objectives

• Prepares investment memos, presentation materials, and dashboards for review by key stakeholders

• Manages investment projects such as asset or portfolio financings, acquisitions, and dispositions

• Contributes to the annual third-party valuation process

• Conducts research on investment strategies, best-practices, and other relevant topics

• May supervise interns

• Additional responsibilities as directed by real estate team leadership

Required Qualifications

• Bachelor's degree in business, accounting, finance or other related field

• Three years of applicable experience in an analytically based real estate investment or finance role

• Strong academic background

• Strong quantitative and problem-solving skills with advanced financial modeling ability

• Strong writing and presentation skills

• Interest in developing and executing investment strategies

• Self-starter with ability to work independently with minimal supervision and collaboratively on a team

• Attention to detail under time-pressure and ability to multi-task

Preferred Qualifications

• 5-7 years of applicable experience in an analytically based real estate investment or finance role

• MBA

Rice University is an Equal Opportunity Employer with commitment to diversity at all levels, and considers for employment qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability or protected veteran status.

Current Rice University COVID policies, which include vaccination, face mask, testing, gatherings, occupancy limits, and travel policies can be found here: https://coronavirus.rice.edu/policies